"Net lending, which strips out redemptions and repayments, was just £1.83 billion during April, the lowest level since February 2001, according to the British Bankers' Association. The low figure did not come as a surprise as mortgage approvals have been depressed since the turn of the year due to a combination of the end of the stamp duty holiday, the severe winter weather and the uncertainty created by the general election, all of which have limited activity in the housing market." (That's the whole article by the way - one statistic and three excuses).

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